DAX Reaching for 19k by Month-End?
Been watching the DAX consolidate after its recent run. We saw some good follow-through, but now it's just grinding. I'd put the odds of seeing a clean break above 19,000 by end of May at about 40%. The conviction isn't quite there from the bulls right now to really push it without a fresh catalyst. We've got $EURCHF hovering around 0.936, showing some underlying stability, but not the kind of risk-on sentiment that typically propels the DAX higher aggressively. If we don't get a hawkish shift from ECB or some surprisingly strong corporate earnings, it's more likely we'll chop around the current range, perhaps retesting support before any serious upward move. The energy sector, with $XOP at 189.54 and $XLE at 63.64, isn't screaming significant economic acceleration either, which would usually be a tailwind.
Yeah, I'm feeling a similar vibe on the DAX. That consolidation has been pretty sticky. I wonder if we'll see any significant moves before the next ECB meeting or if it's going to stay range-bound for a bit longer.